The Block
Bitcoin has rebounded above $61,000 following Wednesday’s release of dovish FOMC meeting minutes for July.The bitcoin perpetual futures funding rate has flipped positive, indicating a more optimistic investor outlook.
SunPump, launched just last week, overtook its major Solana-based rival, PumpFun, in 24-hour revenue on Wednesday.SunPump’s revenue amounted to around $548,000 yesterday, while PumpFun generated about $367,000, data shows.
U.S. spot bitcoin ETFs saw its fifth day of net inflows, while ether funds saw their fifth daily net outflows.
Quick Take A criminal investigation is looking into whether Tether is being used by third parties for illicit activities such as terrorism and hacking, WSJ reports. The Treasury Department, meanwhile, has been weighing sanctioning Tether because of the stablecoin’s use by U.S.-sanctioned people and groups, according to WSJ.
Quick Take The crypto data tracking platform Arkham added Solana blockchain data to its platform. Users can trace large fund movements from certain wallets, obtain real-time trade alerts and gain other information regarding the fifth-largest blockchain by market capitalization.
Quick Take Lido DAO voted to incorporate the community staking module, a step towards creating a fully permissionless staking protocol.
Quick Take During a hearing at the U.S. District Court in the District of Columbia on Friday, assistant U.S. attorney Kevin Rosenberg said they planned to “extend a plea,” according to a Bloomberg report. Eric Council Jr. was arrested and charged last week with “conspiracy to commit aggravated identity theft and access device fraud.”
There are twice as many bitcoin call options as put options set for the Nov. 8 options expiry, the first expiry following the U.S. election, according to Deribit CEO Luuk Strijers.Derivatives traders expect brief, but significant bitcoin price volatility around the time of the U.S. presidential election on Nov. 5, Strijers added.
Quick Take AI memecoins endorsed by the Truth Terminal chatbot, such as GOAT and FARTCOIN, have seen a double-digit price drop. The wider AI memecoin market cap dropped by over 2% in the past 24 hours, according to Coingecko data.
The market for tokenized Treasuries is growing and could challenge stablecoins’ dominance, JPMorgan analysts said.However, analysts noted that regulatory restrictions and liquidity concerns suggest tokenized treasuries may only partially replace stablecoins.
